Spike in SMSF assets for March quarter

SMSF assets increased to $674.7 billion in the first quarter of 2017, with overall superannuation assets growing to $2.2 trillion year-on-year.

New quarterly statistics released by APRA reveal a 12.8 per cent increase in SMSFs from March 2016 to March 2017, while total superannuation assets saw a 11.8 per cent rise.

There were $26.9 billion of contributions in the March 2017 quarter, up 12.3 per cent from $24 billion in March 2016, with total contributions year-on-year showing a 2.6 per cent increase to $106.7 billion.

Total benefit payments also saw a 21.3 per cent increase to $18.8 billion, with total benefit payments for the year ending March 2017 at $70.4 billion.

Net contribution flows, consisting of contributions and net benefit transfers less benefit payments, dipped to $31.6 billion in the March 2017 quarter, down by 12.7 per cent on the March 2016 quarter of $36.2 billion.

Over the March 2017 quarter, entities with more than four members saw total assets increase by 2.4 per cent to $1.5 trillion.

As at the end of the March 2017 quarter, 50.2 per cent of the $1.5 trillion investments were invested in equities – with 23.6 per cent in Australian listed equities, 22.6 per cent in international listed equities and 4.1 per cent in unlisted equities.

Fixed income and cash investments accounted for 32.6 per cent of investments – 20.6 per cent in fixed income and 12.1 per cent in cash. Property and infrastructure accounted for 13.3 per cent of investments and 3.8 per cent were invested in other assets, including hedge funds and commodities.